Activities Underway at Strike's US Projects

- Activities Underway at Strike's US Projects

Tuesday, September 06, 2011
Strike Energy Ltd.

Following Strike's successful $16.8 million capital raising the Company is well positioned to accelerate our USA exploration program.

Activities are now underway on two of the Company's key projects. In the event of success, each has the potential to significantly increase the value of Strike's USA business.

WILCOX SLOPE, St Landry Canyon Project, onshore Louisiana

Strike has a 10% working interest in the St Landry Canyon Project, onshore Louisiana. The 37,000 acre project area contains a number of prospects and is onshore and on trend from McMoRan's Davy Jones discovery, which is estimated to contain up to 6.7 Tcfe of gas and liquids.

The first target to be tested is the West Plumb Bob Prospect which is estimated to have a resource potential of 360 Bcfe including 15 million barrels of condensate (P50 case) and up to 680 Bcfe (P10 case).

The AD Kennison #1 well on the West Plumb Bob Prospect spudded on August 31 and has a planned total depth of 18,100 feet (5,517 meters). Drilling is expected to take 100 to 120 days. Strike has already funded its share of the well's dry hole cost.

EAGLE FORD SHALE, Eagle Landing Joint Venture, Texas

Strike has a 27.5% working interest in Eagle Landing Joint Venture, which has been building a lease hold position within the Eagle Ford Shale trend in Texas. The Eagle Ford Shale has rapidly emerged as one of the USA's most sought after unconventional gas and liquids plays.

The Joint Venture has now increased its lease position to 22,764 acres (6,260 acres net to Strike). Recently reported production rates from Eagle Ford Shale wells adjacent to Strike's acreage have confirmed the extension of the Eagle Ford productive trend. The Joint Venture is planning to further evaluate the acreage through a drilling program over the next six months.

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Strike Mulls Suspending Sadie Well

- Strike Mulls Suspending Sadie Well

Wednesday, July 27, 2011
Strike Energy Ltd.

Strike reported the following progress on the testing of the Sadie 1 well (Homeplace Prospect) in the onshore Gulf Coast, Wilcox formation.

Initial fracking of deepest Wilcox zone in the Sadie 1 well has produced non commercial flow rates. The operator is now proposing to suspend the well pending further evaluation. Several shallower potential pay zones exist in the Wilcox and in the younger Cook Mountain interval. Consideration is being given to the testing of some of these intervals.

The work to connect this well to a nearby sales line has essentially been completed providing flexibility for further testing.

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Strike Enters JV for Eagle Ford Exploration

- Strike Enters JV for Eagle Ford Exploration

Thursday, June 16, 2011
Strike Energy Ltd.

Strike has signed the joint venture agreement governing the Eagle Ford Shale Exploration in Texas.

Under the terms of the joint venture, Strike has secured a 27.5 per cent stake in the venture, which also includes four Texas-based companies. The joint venture is formally named Eagle Landing Joint Venture.

Currently the joint venture has secured 12,400 acres, with 3,410 acres net to Strike. This acreage has been acquired over the last 12 months and the leasing activities will be ongoing for several months.

The majority of the leases are located in Fayette County, Texas, which are on trend with high activity areas in Gonzales and De Witt Counties being drilled primarily by EOG and Petrohawk. Published projected recoveries in these areas range of 450,000 to 1,000,000 barrels of oil equivalent per well based on 160 acres spacing.

Other operators are successfully extending the productive Eagle Ford trend into eastern Gonzales County in the vicinity of the joint venture acreage position, including Penn Virginia, Forest Oil and Magnum Hunter. Three wells recently drilled in Fayette County by Southern Bay Operating, LLC (a subsidiary of GeoResources Inc) are now being fracced and tested. These wells Flatonia East Unit 1H, Flatonia East Unit 2H and Black Jack Springs Unit 1H are in the vicinity of the Strike joint venture leasing. Australian listed company Eureka Energy (ASX: EKA) has a 9.4% working interest in the Black Jack Springs Unit 1H well.

If published recoveries are extended onto leases secured by the Eagle Ford joint venture to date, this provides a target potential of gross 35 to 77 million barrels of oil equivalent or 10 to 21 million barrels of oil equivalent net to Strike's acreage position.

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Strike Secretary Resigns

- Strike Secretary Resigns

Wednesday, June 15, 2011
Strike Energy Ltd.

Strike Energy advised the resignation of Mr. Tony Brazier as Company Secretary with effect from June 15, 2011.

The Board expresses its appreciation for the contribution Mr. Brazier has made to the Company's growth and expansion. Mr. Andrew Dimsey has been appointed Company Secretary.

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Strike Updates Unconventional Position at Southern Cooper

- Strike Updates Unconventional Position at Southern Cooper

Tuesday, May 31, 2011
Strike Energy Ltd.

Strike announced an update on its Southern Cooper unconventional petroleum position in South Australia.

In addition to Strike's recently announced move into the unconventional Eagle Ford shale play in the US, the Southern Cooper position in South Australia demonstrates Strike's high level of exposure to the developing unconventional opportunity space.

Strike holds substantial working interests in PEL 94 (STX: 35%), PEL 95 (STX: 50%) and PEL 96 (STX: 66.67%) which cover an area of 8,400 square kilometers, or two million acres. These permits contain the Permian coal measure and shale sequences that are being evaluated for unconventional gas and liquids hydrocarbons to the north by Beach Energy and more recently by Senex.

In Strike's permits the prospective sequences are predominately less than 2,500 meters in depth and in the early stage thermal maturity window for both gas and oil.

Forward exploration programs in PEL's 94, 95 and 96 are currently being planned with the possibility of drilling in all permits commencing later in 2011 or early 2012. The potential exists for a combined drilling program in the region to take advantage of operating efficiencies. Strike is the operator of PEL 96 and Beach Energy is the operator of PEL's 94 and 95.

Senex Energy announced last week the spudding of its Vintage Crop 1 well, in PEL 516. The well is located 2.5 kilometers east of the PEL 95 permit boundary. Senex Energy intends deepening the well below the Cretaceous and Jurassic Eromanga sequences to evaluate the unconventional gas potential of underlying coals and shales. The well is interpreted to penetrate a similar geological sequence to that which exists in PEL 95. Information from the well will add substantially to the understanding of the unconventional and conventional potential in the region.

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Strike Shifts Focus to Eagle Ford Shale

- Strike Shifts Focus to Eagle Ford Shale

Tuesday, May 24, 2011
Strike Energy Ltd.

Strike announced the following update on its US activities. Substantial progress is being made on several fronts to expand the US business in the onshore Gulf Coast.

EAGLE FORD SHALE INITIATIVE (STX 27.5%)

The near term focus of Strike's US activities has shifted to leasing in the Eagle Ford shale, Texas.

Currently the joint venture has secured 10,000 acres, with 2,750 acres net to Strike.

The leasing activities are focused within the interpreted oil fairway where drilling by other operators has resulted in published projected recoveries in the range of 450,000 to 1,000,000 barrels of oil equivalent per well based on 160 acres spacing. Similar recoveries, if extended onto leases secured by the Eagle Ford joint venture to date, provide a target potential of gross 28 to 62 million barrels of oil equivalent or 8 to 17 million barrels of oil equivalent net to Strike's acreage position.

WILCOX PROGRAM

Homeplace Prospect, Sadie 1 discovery (STX 40%)

Facilities installation and pipeline tie in is advancing well at the Sadie gas/condensate discovery location. Once this work is completed a fraccing unit will be contracted for the completion of the well for testing. Discussions are already underway to secure this equipment.
The completion of this development work prior to testing is expected to take a further 6 to 8 weeks.

The Sadie 1 well was drilled on the Homeplace Prospect, and was successful in finding hydrocarbon bearing sands in the Wilcox Formation. Successful completion and testing will mark the fourth discovery for Strike after Mesquite, Rayburn and Louise and could significantly increase Strike's production and revenue commencing in the third quarter this year.

Louise Prospect, Gardner Duncan 1 well (STX 40%)

The Gardner Duncan 1 well continues to perform exceptionally well. The well has now been on production since April 2010 without decline. In recent weeks the operator has been able to increase production by 15% to 5.2 million cubic feet of gas equivalent per day (4.2 MMcf gas plus 100 bbls of condensate).

Evaluation of production data and new mapping of seismic will continue prior to any decision with respect to further drilling.

EXPLORATION DRILLING

Strike is planning to participate in the drilling of 3 to 5 wells before the end of 2011. These will come from a combination of Wilcox, Eagle Ford shale or new plays being secured. The drilling program is being restructured in light of these new activities and project priorities.

The Wilcox drilling is likely to start up in the fourth quarter this year once new mapping is completed with the results incorporated from the recent discoveries and production history from the Sadie 1 well at Homeplace.

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Strike Preps for Testing at Sadie Well

Strike Preps for Testing at Sadie Well

Thursday, March 31, 2011
Strike Energy Ltd.

Strike advised that production casing has been set in preparation for testing at the Sadie-1 well at the onshore Homeplace prospect in the Gulf Coast, Texas, USA.

Gas shows encountered while drilling and subsequent wireline logging indicate potential gas pay intervals in the main Wilcox Formation objective.

The current plan is to test the well direct to sales. Options to tie into nearby pipelines are currently being investigated. It is anticipated that pipeline installation and scheduling of fraccing equipment will enable testing to commence in two to three months.

The Homeplace prospect in the Wilcox Formation, in which Strike holds a 40% working interest, has a prospective gas resource of 15-20 billion cubic feet (Bcf). The prospect has the potential to more than double the Company’s growing gas and condensate reserves.